Free Access to ACFE.CFE-Financial-Transactions-and-Fraud-Schemes.v2025-06-02.q127 with Valid Practice Test (Page 9)

False billing scheme states that:

A.employees do not cause their company to purchase merchandise that the company does not need.
B.employees do not cause their company to sale merchandise that the company does not need.
C.employees cause their company to purchase merchandise that the company does not need
D.employees cause their company to sale merchandise that the company does not need.

Which of the following scenarios does NOT describe a card skimming or shimming scheme?

A.While processing a payment outside of the customer's view, a retail employee uses a small device to scan and record the customer's credit or debit card information.
B.A gadget attached to an ATM is used to fraudulently scan and record customers' credit or debit card information while a small camera records their PINs.
C.When paying for a drink at a vending machine, a customer inserts their credit or debit card into a fraudulent device that scans and records their card information.
D.After processing a customer's payment, a server returns with the receipt but keeps the credit or debit card hoping that the customer does not notice.

What can make it easy for an employee to skim sales or receivables?

Financial statement fraud can BEST be describes as:

A.The misstatement or omission of financial information for the purpose of personal gain
B.The intentional or accidental misstatement of amounts in the financial statements
C.The intentional understatement of assets or overstatement of liabilities on the balance sheet
D.The deliberate misrepresentation of a company's financial condition

All of the following items appear on the balance sheet EXCEPT:

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